After a state government's unexpected move to impose identification checks and gaming limitations on poker machine users, Endeavour Group, Australia's largest pub owner, had its stock drop to an all-time low on Monday.
The state of Victoria in Australia announced over the weekend that it will require poker machine users to register for an ID card in order to minimize problem gambling and prevent money laundering. It would require venues to close for the night and slow down their machines.
Due to the lack of disclosure on poker machine revenue, analysts were split on the extent to which this would affect Endeavour, the largest owner of poker machine licenses in the country. About 40% of the company's profit in the December 2022 half came from its "hotels" business.
